Lloyds TSB has announced the results of the trial of its latest weapon in the fight against online banking fraud and says the access code device is a success.
Having trialled the key-ring sized device for the last five months, the 23,500 participating online banking customers have not reported any fraud on their banking accounts, Lloyds TSB stated.
The device generates a six-digit number every time online banking customers want to use the internet to conduct their banking transactions.
Lloyds TSB says the response from online banking customers to this device has been "hugely positive".
Of the online banking customers trialling the device, seven in ten rated it as being either excellent or very good.
A total of 95 per cent of internet banking customers who trialled the device found it easy to use.
"Lloyds TSB was the first bank to give this type of device to customers and is at the forefront of tackling online fraud," says the internet banking director at Lloyds TSB, Matthew Timms.
He says the response from internet banking customers has been "fantastic".
"The fact that nobody taking part in the trial has had any fraud on their account since using this device is testament to the fact that technology is the way forward," Mr Timms concludes.
No fraud in online banking trial, Lloyds TSB announces
Financial Services > e-banking > Banking news
No fraud in online banking trial, Lloyds TSB announces
Mon, 06 Mar 2006
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